The Paycheck Protection Program (PPP) provided loans to small businesses affected by the COVID-19 pandemic. Companies with less than 500 employees, sole-proprietorships, independent contractors and self-employed individuals could qualify for these loans, according to Harvard Business School.
A report on the program analyzed by the Peter G. Peterson Foundation found the “distribution of loans across sectors didn’t mirror the distribution of job losses.” It showed restaurants and food service businesses did not receive many loans, despite suffering the highest level of job losses.
A preliminary analysis from the National Bureau of Economic Research suggests the areas most affected by economic disruption did not receive the most loans.
The Paycheck Protection Program ended on May 31, 2021. Existing borrowers may be eligible for loan forgiveness at the discretion of the lender.
PPP loans distributed in 2020 in ZIP Code 58344
| Name of Borrower | Current Approved Amount |
|---|---|
| Nelson County Pigs Cooperative | $155,300 |
| Dusty Willow Dairy, Inc. | $140,180 |
| Bullis Construction, LLC | $80,300 |
| Huso Crop Consulting, LLC | $47,000 |
| Lakota Child Care Center, Inc. | $44,725 |
| LFS Professional Services, Inc. | $43,300 |
| Lakota Farm Services, Inc. | $41,925 |
| Nelson Electrical Solutions, Inc. | $40,540 |
| Farm Equipment Assembly, Inc. | $39,707 |
| Jay T. Estvold | $32,650 |
| Rick and Debra Marquart | $31,104 |
| Scott Nelson | $31,057 |
| Kim W. Swenson | $28,850 |
| Larry Dean Wall | $27,439 |
| Barton Wall | $27,439 |
| David Thompson | $26,556 |
| Lakota Dairy Queen, Inc. | $25,830 |
| Rob Marquart Farms | $23,123 |
| Iverson Kassian Funeral Services, Inc. | $21,442 |
| Gordon Thompson | $20,833 |
| Dennis & Rebecca Anderson Partnership | $20,800 |
| Kenneth A. Dahl | $20,371 |
| Lakota Lutheran Church, of Lakota, North Dakota | $18,600 |
| Schroeder Farms Jv | $14,935 |
| Derrick Marquart | $13,690 |
| Eric Schroeder | $12,125 |
| Thomas L.T.H. Hess Renovations | $9,923 |
| Harold Eidsness | $9,850 |
| Lakota RV Service & Repair, Inc. | $8,735 |
| Dusty Roads Bar and Grill, Inc. | $7,785 |
| Randy Ray Thompson | $7,688 |
| D. Darling, Inc. | $6,670 |
| Elaine's House of Dreams | $5,690 |
| East Dakota Steam Clean and Restoration, Inc. | $4,200 |
| Living Free | $2,672 |
| Grace Lutheran Church | $1,515 |
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